50th Anniversary of Haengjeonggongjehoe... "Assets to Surpass 30 Trillion Won This Year"

Investment Giants Like Howard Marks Also Send Congratulations

The Administrative Mutual Aid Association celebrated its 50th anniversary. Having achieved nine consecutive years of surplus and steady growth, it announced its ambition to increase its asset size to 30 trillion won this year.

On the 23rd, Kim Jang-hoe, Chairman of the Administrative Mutual Aid Association, emphasized this at the 50th anniversary commemorative event held at the War Memorial in Yongsan-gu, Seoul. Chairman Kim stated, "When the Administrative Mutual Aid Association was established in 1975, it started with 80,000 members and assets worth 1.2 billion won. It has grown into a global asset management institution and an advanced welfare organization boasting 360,000 members and assets of 28 trillion won," adding, "The growth and development speed of the Administrative Mutual Aid Association is accelerating, and this year we will enter the era of 30 trillion won in assets."

Along with this, key management goals were also disclosed. The plan is to achieve a reserve ratio of over 112%, assets exceeding 46 trillion won, net income of over 600 billion won, and an operating return rate of 5.4% within five years.

Chairman Kim promised, "We will reestablish a mid- to long-term strategic asset allocation system and enhance risk management systems such as establishing an Asset-Liability Management (ALM) system to proactively respond to crises."

The event was attended by officials from the Ministry of the Interior and Safety, Kang Sung-jo, President of the Korea Local Tax Research Institute, and other related institution heads, as well as Shin Yong-su, an operations committee member, and Song Sang-jae, chairman of the Budget and Settlement Subcommittee. Executives from leading overseas investment firms, including Jonathan Gray, President and Chief Operating Officer of Blackstone, the world's largest private equity firm, and Howard Marks, Chairman of Oaktree Capital Management, also sent congratulatory messages via video.

Meanwhile, the Administrative Mutual Aid Association launched a special short-term installment benefit product to commemorate its 50th anniversary. The additional rate (interest rate) is fixed at 5.0% per annum. Enrollment is open until the 25th of next month. Subscriptions can be made in units of 10,000 won, ranging from 50,000 won to 500,000 won.

Kim Jang-hoe, Chairman of the Administrative Mutual Aid Association, is speaking at the 50th anniversary event held on the 23rd at the War Memorial in Yongsan-gu, Seoul.

This content was produced with the assistance of AI translation services.